Real Estate Development - Long Island City

Hunters Point Development Continues In LIC

April 11, 2011 / Long Island City Real Estate / Queens Real Estate / Queens Buzz. This winter I attended the state of the borough address given by Helen Marshall and a presentation about Queens economic development given by NYC deputy mayor of economic development, Robert K. Steel.

This report captures some of the comments they made about the large-scale real estate development project at Hunters Point South which will include a large condominium complex and retail space in Long Island City. I supplemented what I heard with considerable additional research and investigation.

Hunters Point South will take several years to erect, but work will begin this year to prepare the site with city infrastructure to support it. Click here to read more about Hunters Point Development in Long Island City Queens.

Real Estate Development - Long Island City

Hunters Point Development Continues In LIC

Condos In LIC - Hunters Point Development

In the past ten years Long Island City has seen a significant influx of both public and private investment. In the past five years Jackson Avenue has been renovated with new walks and a boulevard-like separation adorned with plant life. Queens Plaza is still in the process of numerous changes, the most recent of which has been the erection of Gotham Center. The city and contractors are still in the process of creating a new park along Queens Blvd by the Queens Borough and Queens Plaza subway stops.

And over the past ten years several large skyscrapers have shot up along Center Street overlooking the East River and Manhattan, while Gantry Park was being renovated. The graphic rendition above right shows one of the sketches of Hunters Point South, a development designed to enhance the Long Island City neighborhood just south of Gantry Park.

The city’s most recent initiative is its plan to create Hunters Point South, a large retail and condo complex at the southern tip of Hunters Point in Long Island City. We provided a map in the introduction to help you visualize where this large scale development is being erected. On the south side there will be Newton Creek, along the west side there will be the East River, and underneath it all will be the Midway Tunnel and the subway lines. In the rendition shown to your right, the Newton Creek runs along the right side of the development, while the East River runs along the left side of the development.

Hunters Point South LIC - Middle Income Housing

According to deputy mayor R.K. Steel the Hunters Point South Apartment and Commercial space will be a 6,700 unit development, for which 75% or 5,000 of the units will be dedicated to low and middle income housing.

Low and middle income in Long Island City is categorized as incomes of between $32,000 to $130,000 for family of four. The graphical rendition to your right shows the large apartment complexes with courtyard space enclosed within them - similar in concept to the garden apartments of an earlier development in Queens - Jackson Heights.

Hunters Point South - New Development In Long Island City

We looked at a number of the drawings of the development, many of which are also provided in the slide show below. You can also click into the photo album link to view larger copies of the slides.

The Hunters Point South development in Long Island City shows that there will be three contiguous parks established along the East River and Newton Creek. In the graphic to your left you can see that one will have a large round format [bottom left], while another has a semi-circular format which looks south along the East River.

Real Estate Development In LIC - $40 Million Investment In Infrastructure

There’s a $40 million infrastructure project planned for the Hunters Point South this year. The $40 million project will put in place the public infrastructure necessary to support a significant influx of residents and businesses in the Hunters Point section of Long Island City.

The Hunters Point South Real Estate Development project in Long Island City will also include several parks, a school and a considerable amount of retail space. The graphic rendition shown to your right shows both retail and commercial space along one of the East / West streets [Borden / 54th Avenue / 55th Avenue] in the planned Hunters Point South Real Estate Development in Long Island City.

LIC Real Estate Development Projects

Mid Town Access Project – LIC Real Estate

The Midtown Access project is well underway and, as we understand it, is primarily a Manhattan based project, providing faster transit through Queens on the LIRR. It is expected to reduce the commute into Manhattan from Long Island by 40 minutes. Use the search function to find our report on this project. In the photo to your left is the midtown tunnel project underway in 2010 - 2011.

Newton Creek Oil Spill – Environmental Clean Up

A $7 million fine will be used to help clean up the some of the Newton Creek waste water treatment issues. Newton Creek is located under the Kosciusko Bridge, which connects Queens and Brooklyn. The oil spill dates as far back as the mid 1800's when Long Island City was a thriving industrial center and oil storage tanks were located on the land alongside Newton Creek.

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